Synovus has plans to combine the assets of two of its banks in Georgia: National Bank of Walton County in Monroe and Athens First Bank and Trust in Athens, the company announced today.
"Since these two banks operate in the same geographic area, sometimes overlapping in their services to customers, it is a natural fit to combine their resources under one name," Fred L. Green III, Synovus president and chief operating officer, said in a statement. "Bringing together the teams at each bank will leverage Synovus' presence in this market and offer customers increased access to bank offices and continued use of the diversified products and services they enjoy today."
The combined assets will go by the name of AFB&T. AFB&T will have a 19 locations, 323 employees and a total asset size of $1.6 billion once the transfer of assets is complete.
Synovus expects to complete that transfer later this year, pending regulatory approval.
Synovus is a Columbus-based financial services company that provides investment services, commercial and retail banking to customers through 36 banks, 440 ATMs and other Synovus offices in five states in the Southeast.